What is the entry for provision of baddebts
Answers were Sorted based on User's Feedback
Answer / syed mohd ziya
provisions are made for definite expected losses and
reserves are made to meet out the cotingencies.
bad debts- nominal nature- loss
all expences and losses are debited, gains are credited.
journal entry:-
profit and loss a/c Dr
To provision for bad & doubtfull debts
2- bad debts a/c Dr
TO debtors a/c
Is This Answer Correct ? | 12 Yes | 0 No |
Answer / sumit goyal
Provision for bad debts a/c Dr.
To Debtors
Profit & loss a/c Dr
To Provision For bad debts
Is This Answer Correct ? | 2 Yes | 0 No |
Answer / manikandan
1. Provision for Bad Debts
P&L a/c Dr
To Provision for Bad Debts
2. When we are closing
Provision for bad debts a/c Dr
To Debtors
Is This Answer Correct ? | 0 Yes | 0 No |
Four of the following five are alike in a certain way and hence from a group.Which one of the following does not belong to that group? 21,35,49,63,56........ if u get answer pls explain hw u get it?
how to calculate process account under fifo and weighte average method in eqivalent production.
What is an 'Accrued Expenses
What is the difference between Bank transfer and Cheques in SAP.
How tha valuation of Inventory should be done?
Which ledger are already exist in the tally erp9 ?
WHAT IS CRR, REPORATE, REVERSE REPO RATE
What are the three major parts of accounting
Expand ctc cheque?
difference between account payable and bills payable
What is BRS? Why BRS?
What is reserves